New analysis from the UK’s largest property website, Rightmove, has revealed that February is the most favourable month to list a home for sale.
Based on data spanning from 2012 to present, excluding 2020 due to the pandemic, homes listed in February not only have the best chance of finding a buyer but also tend to secure a buyer more rapidly.
The findings, derived from millions of properties listed for sale, demonstrate that, on average, homes listed in February have taken a mere 51 days to find a buyer, closely followed by March at 52 days, and on par with January.
Furthermore, an impressive 66.4% of homes listed in February have successfully found a buyer, making it the most promising month alongside April and slightly edging out March, which stands at 66.3%.
Moreover, February listings have demonstrated a higher likelihood of completing the sale process, and they are the least likely to be withdrawn by the owner from the market.
March also ranks highly in the data, emphasising that individuals planning to sell their homes at the onset of spring are positioning themselves advantageously for a successful move in 2024.
In the current year, there has been an 8% increase in the number of buyers reaching out to agents regarding homes for sale compared to the previous year.
Simultaneously, there has been an 11% rise in the number of new properties listed by sellers, indicating heightened market activity.
Tim Bannister, Rightmove’s property expert, commented on the findings: “The best time to get moving is the time that’s right for you – we can’t always plan or predict when a life move is needed.
“However, for those who are able to be a bit more flexible about when they decide to sell, the data shows typically the start of the year has been particularly strong.
“It’s also when we’ve historically seen the most buyers sending enquiries to agents, so it’s a great time for those looking to sell to make sure they are listed, their marketing is strong and they’re pricing attractively enough against other sellers.”
